100 episodes

The Dr. Friday Tax Tips - One Minute Moment - is a collection of one minute tax tips designed to help business owners, individuals, families, entrepreneurs, and anyone who pays taxes to the IRS do so correctly while saving as much as their hard earned money as possible. If it has to do with taxes and/or the IRS, you will find it here!

Dr. Friday is an IRS Enrolled Agent who specializes in Taxes, Bookkeeping, Payroll, Public Speaking events, and more. Dr. Friday Tax and Financial Firm, Inc. is a full service financial firm that helps deal with the Internal Revenue Service on behalf of our clients so they do not have to.

To learn more, visit our website at https://drfriday.com, e-mail Dr. Friday at friday@drfriday.com, or call (615) 367-0819 today!

Dr. Friday Tax Tips Dr. Friday Tax & Financial Firm

    • Business
    • 5.0 • 1 Rating

The Dr. Friday Tax Tips - One Minute Moment - is a collection of one minute tax tips designed to help business owners, individuals, families, entrepreneurs, and anyone who pays taxes to the IRS do so correctly while saving as much as their hard earned money as possible. If it has to do with taxes and/or the IRS, you will find it here!

Dr. Friday is an IRS Enrolled Agent who specializes in Taxes, Bookkeeping, Payroll, Public Speaking events, and more. Dr. Friday Tax and Financial Firm, Inc. is a full service financial firm that helps deal with the Internal Revenue Service on behalf of our clients so they do not have to.

To learn more, visit our website at https://drfriday.com, e-mail Dr. Friday at friday@drfriday.com, or call (615) 367-0819 today!

    The 1099-NEC Forms Are Back

    The 1099-NEC Forms Are Back

    Announcer 0:00
    Good day. I’m Dr. Friday president of Dr. Friday’s tax and financial firm. To get more info go to www. Dr. friday.com. This is a one minute moment.
    Dr. Friday 0:12
    We are getting close to having to file our 1099. Remember, this year’s big change is that the NEC is back. So not only do we have the 1099 MISC but we have a 1099 NEC for any payments made to someone who is not your employee. If you made any kind of services like trades or businesses, government agencies that’s going to be on the NEC. If you make payments to individuals partnerships or estates, that’s going to be any payments you made of at least $600 throughout the year to any other individual. If you need help understanding that or filing your 1099 call my office today at 615-367-0819.
    Announcer 0:52
    You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.

    • 1 min
    What To Do If You Don’t Know If You’ve Done Your Taxes Correctly

    What To Do If You Don’t Know If You’ve Done Your Taxes Correctly

    Announcer 0:00
    Good day. I’m Dr. Friday, president of Dr. Friday’s tax and financial firm. To get more info go to www. Dr. friday.com. This is a one minute moment.
    Dr. Friday 0:12
    What do you do if you don’t know if you’ve done your taxes correctly? Maybe you made a mistake. Maybe you forgot to add income. Do you just wait and see if the IRS corrects it for you, or should you correct it yourself? And the answer isn’t as black and white as you might think. In some cases, it might just be as easy to allow the government to make the adjustments. But 90% of the time, the sooner you correct it especially if there’s an outstanding balance the sooner you pay it, the lower the penalties and interest will be. So the first thing you want to do is if you figure out you’ve made a mistake on your tax return, you need to correct it on a 1040 X. If you need help, call me at 615-367-0819.
    Announcer 0:52
    You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.

    • 1 min
    Will I Get A Refund Even Though I’m On A Payment Plan?

    Will I Get A Refund Even Though I’m On A Payment Plan?

    Announcer 0:00
    Good day. I’m Dr. Friday, president of Dr. Friday’s tax and financial firm. To get more info go to www. Dr. friday.com. This is a one minute moment.
    Dr. Friday 0:12
    We’ve had a couple of rough years for many people. But more and more people are setting up payment plans getting on track with the IRS. One of the questions I’m always receiving is, what if I have a refund this year? Will I get that refund even if I’m on a payment plan? And the answer is most likely, no. They’re going to apply any overpayments you have to your outstanding balance. Now, remember, stimulus checks are not being applied to outstanding balance but if you actually have a refund on your tax return, you want to do that. If you haven’t filed taxes for three years and you have refunds, guess what? You just lost them. Call me at 615-367-0819
    Announcer 0:52
    You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.

    • 1 min
    Make Sure You Are Claiming Your Dependents on Your 2020 Taxes

    Make Sure You Are Claiming Your Dependents on Your 2020 Taxes

    Announcer 0:00
    Good day. I’m Dr. Friday, president of Dr. Friday’s tax and financial firm. To get more info go to www. Dr. friday.com. This is a one minute moment.
    Dr. Friday 0:12
    Making sure that when you’re claiming dependents. We’re getting close guys, people are thinking about preparing their 2020 taxes, and we’re getting close to that deadline. Keep in mind that if you have someone living with you, and they have children, those children are not necessarily your deductions or dependents. You need to make sure and if they’re not related to you, they may not even be able to be put on your tax return. Double-check the information make sure you have the proper documentation to justify that deduction. The IRS is auditing this more and more and you want to make sure you’re doing this right if you need help, call 615-367-0819.
    Announcer 0:52
    You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.

    • 1 min
    Is There an Age Limit on Claiming My Child as a Dependent?

    Is There an Age Limit on Claiming My Child as a Dependent?

    Announcer 0:00
    Good day. I’m Dr. Friday, president of Dr. Friday’s tax and financial firm. To get more info go to www. Dr. friday.com. This is a one minute moment.
    Dr. Friday 0:12
    “Is there an age limit on claiming my child as a dependent?” To claim your child as a dependent your child must either qualify as a child test or qualified relative test. This is often where people get confused. A lot of times people turn around and say, “Well, I can’t claim my child over the age of 24.” No, they’re no longer a child. They are now considered by the government as a relative. I know it’s just terminology, but it doesn’t make a difference. If you are providing more than 50% of their support, and they are not making more than $12,000 a year then they are or can be possibly your dependent. If you need more help or if you need a separate appointment, go to drfriday.com.
    Announcer 0:52
    You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.
     

    • 1 min
    Quarterly Estimates On January 15th, 2021

    Quarterly Estimates On January 15th, 2021

    Dr. Friday 0:00
    Good day. I’m Dr. Friday, president of abductive Friday tax and financial firm. To get more info go to www. Dr. friday.com. This is a one minute moment.
    Dr. Friday 0:12
    January 15, 2021, is a big day because it is the day you need to pay your final quarterly estimate. If you haven’t made enough throughout the year, it’s the day you want to maximize whatever you think you’re going to owe. If you haven’t made any estimates, today is the day you want to send in what you think you’re going to owe or at least 100% of what you owe the year before, assuming your income hasn’t changed. That way you don’t get penalties guys, we hate penalties, and even though you might have a small one for not making in four equal payments, it’s going to be a lot better than waiting until April 15. You need help check us out on the web at drfriday.com.
    Announcer 0:52
    You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.

    • 1 min

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